Oregon Revised Statutes Chapter 80 § 80.1020 — UCC

UCC 12.102. Definitions. (1) In ORS 80.1010 to 80.1070: (a)(A) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under ORS 80.1050. (B) “Controllable electronic record” does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property or a transferable record. (b) “Qualifying purchaser” means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith and without notice of a claim of a property right in the controllable electronic record. (c) “Transferable record” has the meaning given that term in: (A) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7021(a)(1), as in effect on January 1, 2026; or (B) ORS 84.046. (d) “Value” has the meaning given that term in ORS 73.0303, as if references in that section to an “instrument” were references to a controllable account, controllable electronic record or controllable payment intangible. (2) The definitions in ORS chapter 79A of “account debtor,” “controllable account,” “controllable payment intangible,” “chattel paper,” “deposit account,” “electronic money” and “investment property” apply to ORS 80.1010 to 80.1070. (3) ORS chapter 71 contains general definitions and principles of construction and interpretation applicable throughout ORS 80.1010 to 80.1070. [2025 c.33 §95]